By Andrea Heisinger
New York, Nov. 20 - KfW priced an upsized $1.5 billion of two-year floating-rate notes (Aaa/AAA/AAA) on Tuesday at par to yield one-month Libor plus 8 basis points, a market source said.
The size was increased from $1 billion.
Pricing was tighter than talk on Monday in the one-month Libor plus 9 bps area. There is no call option.
Bookrunners were BNP Paribas Securities Corp., Deutsche Bank Securities Inc. and Goldman Sachs & Co.
The German government-owned development bank is based in Frankfurt.
| Issuer: | KfW
|
| Issue: | Global notes
|
| Amount: | $1.5 billion, upsized from $1 billion
|
| Maturity: | Nov. 28, 2014
|
| Bookrunners: | BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Goldman Sachs & Co.
|
| Coupon: | One-month Libor plus 8 bps
|
| Price: | Par
|
| Yield: | One-month Libor plus 8 bps
|
| Call: | Non-callable
|
| Trade date: | Nov. 20
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | One-month Libor plus 9 bps area
|
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